While making purchase, it is important that currency is not volatile.If a person purchased a good of $ 10 and receives $1 worth tokens at that time.He goes to another shop after one year, and he finds out that tokens are now worth $0.5 only. This would not be good for customers as they would be at risk fictions price.

So how would you prevent such situation?Correct me if I'm wrong somewhere in my assumptions.

Incent is designed to increase in value simply by bringing in more and more merchants. This is what we will be working at the most after the end of ICO. Nevertheless, there might be periods in which Incent decreases, as any other currency/asset.

More importantly, however, is the fact that he received 0.5$ spendable in the whole Incent network. We are sure customers will soon appreciate the advantages open value offers them and rate this more important than having lost parts of their reward.

As of now, loyalty points can only be redeemed with the issuer and only then for a finite period. Once live, Incent will be redeemable anywhere, forever. To the holder, they will be 'money good'. This is, to use Peter Thiel's vernacular, a 10x improvement.

Blockchain makes this possible, through creation of token of finite supply aimed at this specific function.

Our thesis is that consumers will love this (open) value proposition and because Incent incurs a fraction of the operating costs and liability of conventional schemes - so will merchants.

The result will be regular and building demand for the token on the secondary market, as more and more merchants adopt - with the associated impact on token price.

Put another way, while the scenario you envisage is theoretically feasible, we deem it highly unlikely. And bear in mind that any conventional loyalty point is worthless - by design - at the one year point. Viewed from this perspective even 50 cents on the dollar is a significant improvement on the current status-quo.

In the meantime, the value proposition for holders of Incent (as a speculative investment) is similarly strong, as the project will see mainstream commerce paying to put crypto into the wallets of mainstream consumers. Every single transaction from every single participating merchant will result in a new demand impulse for Incent on the secondary market.

16 days, 20 hours and 2 minutes Took almost forever. Incent and the rest like DAR will neeed WAVES fullnodes before its going to be released right? I would assume it will still be 16 days still before sasha release them too. true?

16 days, 20 hours and 2 minutes Took almost forever. Incent and the rest like DAR will neeed WAVES fullnodes before its going to be released right? I would assume it will still be 16 days still before sasha release them too. true?

You are right twice. We depend on Waves' asset issuance feature to launch Incent. The good thing is that the full node release candidate is ready (see official github) and to be launched within the coming days. Stay tuned!

WavesGo - the Official Block Explorer for the Waves Platform. Making blockchain accessible to the masses.

Hey De Selby,a) You're right, we'll have BTC/fiat and Incent reserves so we can send Incent and regular cash to merchants and customers promptly. There will be overall pressure on the price of Incent for a couple of reasons at least. The spread (we will redeem Incent at a slightly lower price than it's bought) for a start. Also, the merchant ecosystem will expand rapidly in the early months and years. A lot of Incent will therefore be bought. There will necessarily be a lag between that being sent to the customer and the customer redeeming it - if in fact they do, since many will probably hold as an investment or possibly forget about it! Essentially, any adoption brings greater scarcity of available supply.

b) If a merchant issues a token when Incent is $1 and it's at $2 when the customer redeems it, that's good for both of them! Remember, Incent is just another form of money. It's not backed by that individual merchant, it's sold at market price. This is one of the things that merchants love about Incent - there's no forward liability. Of course, Incent may be worth less when it's redeemed by the customer, due to market fluctuations. That's not great, but everyone knows what the deal is from the start at the value of Incent in fiat will be displayed to the customer in the app. Also, we've designed Incent in such a way that the value should rise sustainably over the long term, whatever short-term volatility there is.

c) Waves is a platform and Incent a Waves token. So Waves is a tool here, rather than 'backing' Incent in some way. Incent will trade against fiat (merchants buying and redeeming) and BTC (on exchanges). Confidence in Waves is important, but so long as the platform works well I don't see that the price of Waves should materially impact the price of Incent once it's in the wild and being used as intended.

Does that all make sense?

Thanks for the prompt reply. Very informative.

Regarding the spread ("We will redeem Incent at a slightly lower price than it's bought"), how will this work exactly? Through what mechanism will you be able to capture that spread?

Also, I saw you contacted Bittrex on Twitter. How are things going on that front?

While making purchase, it is important that currency is not volatile.If a person purchased a good of $ 10 and receives $1 worth tokens at that time.He goes to another shop after one year, and he finds out that tokens are now worth $0.5 only. This would not be good for customers as they would be at ri?sk fictions price.

So how would you prevent such situation?Correct me if I'm wrong somewhere in my assumptions.

Incent is designed to increase in value simply by bringing in more and more merchants. This is what we will be working at the most after the end of ICO. Nevertheless, there might be periods in which Incent decreases, as any other currency/asset.

More importantly, however, is the fact that he received 0.5$ spendable in the whole Incent network. We are sure customers will soon appreciate the advantages open value offers them and rate this more important than having lost parts of their reward.

As of now, loyalty points can only be redeemed with the issuer and only then for a finite period. Once live, Incent will be redeemable anywhere, forever. To the holder, they will be 'money good'. This is, to use Peter Thiel's vernacular, a 10x improvement.

Blockchain makes this possible, through creation of token of finite supply aimed at this specific function.

Our thesis is that consumers will love this (open) value proposition and because Incent incurs a fraction of the operating costs and liability of conventional schemes - so will merchants.

The result will be regular and building demand for the token on the secondary market, as more and more merchants adopt - with the associated impact on token price.

Put another way, while the scenario you envisage is theoretically feasible, we deem it highly unlikely. And bear in mind that any conventional loyalty point is worthless - by design - at the one year point. Viewed from this perspective even 50 cents on the dollar is a significant improvement on the current status-quo.

In the meantime, the value proposition for holders of Incent (as a speculative investment) is similarly strong, as the project will see mainstream commerce paying to put crypto into the wallets of mainstream consumers. Every single transaction from every single participating merchant will result in a new demand impulse for Incent on the secondary market.

RW.

I agree that price of incent tokens would increase . It was just an assumption, if price of incent falls.

I agree, current loyalty system is inefficient. But still, many people may not be ready for it, anyhow they will soon adapt.

Still, I hope the incent token price would stable after the initial rise.

One question,Transactions would go through blockchain, so it would require confirmations. So, would the customer have to wait for a minute for confirmation transaction

Regarding the spread ("We will redeem Incent at a slightly lower price than it's bought"), how will this work exactly? Through what mechanism will you be able to capture that spread?

Also, I saw you contacted Bittrex on Twitter. How are things going on that front?

Thanks.

Merchants will buy/sell through BitScan, who will act as primary broker. They won't buy from an exchange!We're contacting exchanges - will keep you posted. Any help on that front will be welcome as they like to know there's community demand for coins.

Merchants will buy/sell through BitScan, who will act as primary broker. They won't buy from an exchange!We're contacting exchanges - will keep you posted. Any help on that front will be welcome as they like to know there's community demand for coins.

Okay. I thought you'd be buying/selling through the exchanges. It makes sense to use the existing infrastructure/ecosystem at BitScan.

Yeah, getting added to Bittrex adds credibility to the project. First Bittrex, then Poloniex!

Merchants will buy/sell through BitScan, who will act as primary broker. They won't buy from an exchange!We're contacting exchanges - will keep you posted. Any help on that front will be welcome as they like to know there's community demand for coins.

Okay. I thought you'd be buying/selling through the exchanges. It makes sense to use the existing infrastructure/ecosystem at BitScan.

Yeah, getting added to Bittrex adds credibility to the project. First Bittrex, then Poloniex!

BitScan will be primary broker, so we'll hold reserves we can deploy quickly to merchants, without slippage. We'll balance those up from the open market, so the effect will filter through and we'll always maintain that reserve.

it's terrible for me, but it gives me a nice joke at the same time.There is two Karl in my mind. May I report the account too?

Yes, please report the fake account and keep in mind that we will never send you such messages on social media. Be careful and keep an eye out, I am sure he will try again! Unfortunately, Twitter is either really slow blocking impersonators or they simply don't care.

WavesGo - the Official Block Explorer for the Waves Platform. Making blockchain accessible to the masses.

it's terrible for me, but it gives me a nice joke at the same time.There is two Karl in my mind. May I report the account too?

Yes, please report the fake account and keep in mind that we will never send you such messages on social media. Be careful and keep an eye out, I am sure he will try again! Unfortunately, Twitter is either really slow blocking impersonators or they simply don't care.

Yeah I also got a message from impersonators..Just report the fake account.I think so he'll come back to tried scam people there..Just careful and more thoroughly